Broad Based Black Economic Empowerment Act, 2003 (Act No. 53 of 2003)

Codes of Good Practice on Black Economic Empowerment

Purchase

1.4.1)

For the first year after the commencement of this statement, a Measured Entity may elect to use –

1.4.1.1)

the QSE Scorecard; or;

1.4.1.2)

the transitional Scorecard.

1.4.2)

Thereafter, all BEE compliance measurement under the Codes for QSE’s is subject to the use of the QSE Scorecard or, if applicable, a Sector Code.

1.4.3)

The transitional scorecard assigns a BEE Status based on the Ownership and Management Control of the entity calculated in terms of the formula below:

A = B x 1.18

Where:

A is the indicative BEE Status during the transitional period.

B is the total score achieved under Code series 801 and 802.